GSA Capital Partners LLP Reduces Stake in Genesis Energy, L.P. (NYSE:GEL)

GSA Capital Partners LLP lessened its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 1.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,920 shares of the pipeline company’s stock after selling 1,090 shares during the quarter. GSA Capital Partners LLP owned about 0.06% of Genesis Energy worth $921,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chickasaw Capital Management LLC grew its stake in Genesis Energy by 6.5% during the second quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company’s stock valued at $61,411,000 after acquiring an additional 262,784 shares in the last quarter. Creative Planning boosted its holdings in Genesis Energy by 1.9% in the 3rd quarter. Creative Planning now owns 3,105,454 shares of the pipeline company’s stock valued at $41,520,000 after purchasing an additional 59,263 shares during the period. Advisors Asset Management Inc. grew its position in shares of Genesis Energy by 19.9% during the 1st quarter. Advisors Asset Management Inc. now owns 208,150 shares of the pipeline company’s stock valued at $2,315,000 after purchasing an additional 34,614 shares in the last quarter. ELCO Management Co. LLC increased its holdings in shares of Genesis Energy by 10.7% in the second quarter. ELCO Management Co. LLC now owns 188,304 shares of the pipeline company’s stock worth $2,695,000 after purchasing an additional 18,170 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of Genesis Energy by 1.0% in the third quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock worth $1,777,000 after buying an additional 1,286 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors.

Genesis Energy Stock Up 2.3 %

GEL opened at $11.79 on Friday. The business’s fifty day simple moving average is $12.73 and its 200 day simple moving average is $13.20. Genesis Energy, L.P. has a 52 week low of $10.01 and a 52 week high of $15.17. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The stock has a market cap of $1.44 billion, a PE ratio of -15.93 and a beta of 2.12.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. The firm had revenue of $714.30 million for the quarter. During the same quarter last year, the company posted $0.29 earnings per share.

Genesis Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.66 annualized dividend and a dividend yield of 5.60%. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s dividend payout ratio (DPR) is currently -89.19%.

Analysts Set New Price Targets

Several research firms recently commented on GEL. Capital One Financial upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st. Royal Bank of Canada upped their price objective on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com downgraded shares of Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th.

About Genesis Energy

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.